(Los Alamitos, 12/5/2013) Dave E. here. I’ll admit I was left a little befudled by the treatment of this item on last month’s Los Alamitos City Council Agenda. Now our Thursday columnist seeks to explain.
by Highlands Guy:
While reading this article please remember the difference between the fine men and women who make up the Orange County Fire Authority and the benefits deal brokered between the Association and the various civic entities that make up the County of Orange. Obviously the first group must be respected for the job that they do, but that must be separated from the political stance and their search for more retirement and medical benefits.
Thesis: The basis for the OCFA recent proposal, which was supported by the majority of the Los Al City Council, is rooted in the fire fighters Unfunded Actuarial Accrued Liability (UAAL). And according to ‘investorwords.com’ this means, “The amount…by which future payment obligations exceed the present value of funds available to pay them. Basically, it reflects that the total plan obligations exceed the Read the rest of this entry →